NN vs. AXON

Last updated Jun 4, 2026

NN (NextNav Inc.) and AXON (Axon Enterprise, Inc.) are both stocks. NN operates in Internet Content & Information (Communication Services), while AXON operates in Aerospace & Defense (Industrials). Over the past 3 years, NN returned 100.65%/yr vs 35.57%/yr for AXON. At a 0.18 correlation, their price movements are largely independent.

Performance

NN vs. AXON - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NextNav Inc. (NN) and Axon Enterprise, Inc. (AXON). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NN achieves a 29.63% return, which is significantly higher than AXON's -15.22% return.

NN

• 1D: 7.58%
• 1M: 19.04%
• YTD: 29.63%
• 6M: 48.35%
• 1Y: 85.47%
• 3Y*: 100.65%
• 5Y*: —
• 10Y*: —

AXON

• 1D: -1.76%
• 1M: 22.28%
• YTD: -15.22%
• 6M: -11.42%
• 1Y: -36.57%
• 3Y*: 35.57%
• 5Y*: 27.81%
• 10Y*: 35.69%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NN vs. AXON - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NN NextNav Inc.	29.63%	6.94%	249.66%	51.88%	-66.55%	-19.34%
AXON Axon Enterprise, Inc.	-15.22%	-4.44%	130.06%	55.69%	5.69%	-10.10%

Correlation

The correlation between NN and AXON is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (All Time) Calculated using the full available price history since Oct 29, 2021	0.18

Fundamentals

Market Cap NN : $3.27B AXON : $39.71B
EPS NN : -$1.00 AXON : $2.41
PS Ratio NN : 758.03 AXON : 13.84
Total Revenue (TTM) NN : $4.03M AXON : $2.98B
Gross Profit (TTM) NN : -$10.72M AXON : $1.77B
EBITDA (TTM) NN : -$81.67M AXON : $156.24M

Return for Risk

NN vs. AXON — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NN

NN Risk / Return Rank: 75
NN Sharpe Ratio Rank: 76
NN Sortino Ratio Rank: 71
NN Omega Ratio Rank: 74
NN Calmar Ratio Rank: 77
NN Martin Ratio Rank: 77

AXON

AXON Risk / Return Rank: 16
AXON Sharpe Ratio Rank: 12
AXON Sortino Ratio Rank: 14
AXON Omega Ratio Rank: 14
AXON Calmar Ratio Rank: 19
AXON Martin Ratio Rank: 18

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NN vs. AXON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NextNav Inc. (NN) and Axon Enterprise, Inc. (AXON). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NN	AXON	Difference
Sharpe ratio: Return per unit of total volatility	1.23	-0.67	+1.89
Sortino ratio: Return per unit of downside risk	1.82	-0.79	+2.60
Omega ratio: Gain probability vs. loss probability	1.26	0.90	+0.36
Calmar ratio: Return relative to maximum drawdown	2.35	-0.61	+2.95
Martin ratio: Return relative to average drawdown	5.64	-1.06	+6.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NN vs. AXON - Sharpe Ratio Comparison

The current NN Sharpe Ratio is 1.23, which is higher than the AXON Sharpe Ratio of -0.67. The chart below compares the historical Sharpe Ratios of NN and AXON, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NN	AXON	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	-0.67	+1.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.58	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.73	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.52	-0.31

Drawdowns

NN vs. AXON - Drawdown Comparison

The maximum NN drawdown since its inception was -86.54%, smaller than the maximum AXON drawdown of -91.78%. Use the drawdown chart below to compare losses from any high point for NN and AXON.

Drawdown Indicators

	NN	AXON	Difference
Max Drawdown Largest peak-to-trough decline	-86.54%	-91.78%	+5.24%
Max Drawdown (1Y) Largest decline over 1 year	-36.62%	-60.28%	+23.66%
Max Drawdown (3Y) Largest decline over 3 years	-47.78%	-60.28%	+12.50%
Max Drawdown (5Y) Largest decline over 5 years	—	-60.28%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-60.28%	—
Current Drawdown Current decline from peak	-7.03%	-44.72%	+37.69%
Average Drawdown Average peak-to-trough decline	-45.93%	-43.59%	-2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.20%	34.48%	-19.28%

Volatility

NN vs. AXON - Volatility Comparison

NextNav Inc. (NN) and Axon Enterprise, Inc. (AXON) have volatilities of 20.41% and 19.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NN	AXON	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.41%	19.59%	+0.82%
Volatility (6M) Calculated over the trailing 6-month period	59.62%	43.35%	+16.27%
Volatility (1Y) Calculated over the trailing 1-year period	70.13%	54.98%	+15.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	76.90%	47.85%	+29.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	76.90%	49.10%	+27.80%

Dividends

NN vs. AXON - Dividend Comparison

Neither NN nor AXON has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both NN and AXON in my portfolio?

NN and AXON have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NN or AXON?

NN has higher volatility (20.41%) compared to AXON (19.59%). In terms of maximum drawdown, NN dropped -86.54% vs AXON's -91.78%.

Which has better risk-adjusted returns?

NN currently has the higher Sharpe Ratio (1.23 vs -0.67), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.